Topic

Modern Money

Interest, mortgages, investing, crypto, insurance and gambling. Short, honest answers for new Muslims.

What happens if a Muslim dies in debt?

If a Muslim dies in debt, it is paid from the estate before inheritance is shared. Sincere borrowers find mercy, and family can pay it off for them.

It depends: a regular credit union still lends and pays dividends based on interest, so most products aren't halal. Interest-free accounts are fine.

It depends on the card: Visa gift cards count as money, so a discount is close to riba, while many scholars allow selling store cards below value.

No, it costs nothing to become Muslim. The shahada is free; certificates and classes are optional, and zakat only applies if you can afford it.

Yes, a phone contract is halal in most cases. Learn what to check: interest on the handset, late fees and keeping your contract terms as a Muslim.

It depends: REITs earning rent can be halal, but most borrow with interest or rent to haram tenants. Screened Islamic REITs are generally allowed.

A 529 college savings plan can be halal only if its investments are shariah-compliant; age-based bond funds and interest options are not.

Copy trading is halal only if the copied trades are real, unleveraged shares in halal companies; CFDs, leverage and shorting are not.

Yes, RSUs and employee stock options are generally halal if the company's business is halal. Learn about screening, options, purification and zakat.

It depends: a 401(k) loan charges interest that returns to your account. Scholars differ; many advise avoiding it; hardship withdrawals are safer.

Yes, saving money is allowed in Islam; the Prophet kept a year's provision. Learn about balance, zakat on savings and halal places to save.

Gharar in Islam means excessive uncertainty in a deal. Learn why it's forbidden, classic and modern examples, and why minor uncertainty is fine.